Allowing high-frequency trading as it is presently practiced will lead to a catastrophic market crash that will not only destroy trillions of dollars of wealth in America and around the world, it will destroy the economy in the process and ensure that a recovery won't be possible because the public won't have any faith in the capital markets that are supposed to be about capital formation, investment opportunity and risk transfer.

The SEC and all exchanges need to immediately end anybody's exchange access speed advantage that in any way disadvantages anybody else.

No one should be allowed to post fake quotes to manipulate other traders or investors.

If HFT players want to become market-makers, make them post their markets, and make them honor them.

If HFT players are so good for the market, let them prove it by making them identify themselves so they can be monitored and by making them leave their quotes out there for a minimum amount of time.